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Six oil companies will compete to sell up to 55 million barrels of Brazil crude

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(S&P Global Platts) Six oil companies will compete for the rights to buy Brazil's share of profit oil from four subsalt production sharing fields, with up to 55 million barrels of crude available, government subsalt management company Pre-Sal Petroleo...
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Appeal hearing granted to US oil execs jailed in Venezuela

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(AP) — Six U.S. oil executives detained in Venezuela for four years on corruption charges have been granted a hearing before an appeals court, a rare decision by the judicial system in the South American country. A judge this week...
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Venezuela slashes daily oil production target to 1 million barrels

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(Bloomberg) Venezuela’s state oil company slashed its output target by one-third as years of corruption, brain drain, and inadequate investment crippled the nation’s energy infrastructure. PDVSA cut its daily production target to 1 million barrels from a 1.5-million-barrel goal announced in...
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No major U.S. oil sanctions relief for Venezuela expected from its elections

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(S&P Global Platts) Any major easing of US oil sanctions against Venezuela remains off the table, but the country's Nov. 21 elections could provide a chance for relief around the edges like a restart to crude-for-diesel swaps. Candidates backed by...
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Price of fuel goes up in Brazil amid international surge in crude oil

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(MercoPress) Brazil's oil company Petrobras Monday decreed an increase in the price of gasoline of 7.04% at refineries and 9.15% in the case of diesel fuel, it was announced. These adjustments were to impact the price consumers pay at...
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Consortium signs multi-client agreement for seismic campaigns offshore Suriname

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TGS, a global provider of energy data and intelligence, in a consortium with CGG and BGP announced on Wednesday the signature of a multi-client agreement with Staatsolie, the state-owned company leading the development of the energy industry in the...
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Oil major Chevron seals the deal for Suriname oil block

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U.S. oil major Chevron has signed a Production Sharing Contract (PSC) with Suriname state oil company Staatsolie Maatschappij Suriname for block 5 offshore the South American country. By entering the PSC, Staatsolie said Chevron has been granted exploration, development and...
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TechnipFMC bags substantial contract for Brazil’s Petrobras

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TechnipFMC (NYSE: FTI) (PARIS: FTI) has been awarded a substantial long-term charter and services contract by Petrobras (NYSE: PBR) for the pipelay support vessel Coral do Atlântico. The Brazilian-registered vessel has been secured on a three-year contract, with an option to...
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NASA satellite photos show oil spill at Venezuela’s largest lake

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(The Washington Post) The stench of gasoline burned through Verónica Barboza’s nose as she stood by the edge of Lake Maracaibo, one of the largest lakes in South America, on a recent afternoon. The soles of her shoes, she said,...
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Deepwater hotspot Suriname aiming for draft local content policy by 2022

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Suriname, Guyana's neighbour to the east, is looking to draft its local content policy by early 2022. Disclosing this was the country’s Minister of Natural Resources, David Abiamofo during his keynote address at the Suriname International Petroleum and Gas...
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SBM Offshore subsidiary seeks local suppliers for coverall production

Guyana Deep Water Operations Incorporated (GDO), a subsidiary of SBM Offshore, has issued a Request for Information (RFI) to...

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